How Much Home Can You Afford in Toronto?

Toronto is Canada's largest and most expensive major market. Buyers here face both provincial and municipal land transfer tax, so closing costs are a major part of the budget.

Average price is a 2026 estimate for illustration · Last updated: May 2026

Your Finances
Enter your household income and down payment

Estimated Toronto property tax: $648/mo on the average home. Stress-tested at 6.49%.

What You Can Afford
In Toronto, ON

Maximum purchase price

$704,374
Maximum mortgage$604,374
Toronto average home$1,080,000
Payment on average home$5,442/mo
Land transfer tax (avg home)$36,150

Buying in Toronto: What to Know

1

Double land transfer tax (provincial + Toronto municipal).

2

Up to $8,475 in combined first-time buyer rebates.

3

Deep, competitive market with strong long-term demand.

Average Home Price
$1,080,000

2026 estimate

Property Tax Rate
0.72%

≈ $7,776/yr

Land Transfer Tax
$36,150

On the average home

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